Job Category : Credit and Collections
Job Type : Fulltime
Location : MUMBAI, INDIA

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What to Expect

Credit control is a critical function within the finance department of our company. It involves managing the company’s credit policies and ensuring that customers pay their invoices on time. The main goal is to optimize cash flow and minimize bad debt.

A career in credit control is ideal for individuals who are detail-oriented, enjoy working with numbers, and have strong interpersonal skills. It offers a good balance of routine tasks and problem-solving opportunities, with the potential for career advancement in finance and credit management.

What you’ll do

• Credit Policy Development: Develop and implement comprehensive credit policies and procedures aligned with the company’s financial objectives and risk tolerance.  Establish appropriate credit limits and terms for customers based on creditworthiness and financial stability. 
• Credit Evaluation: Assess the creditworthiness of new customers through thorough credit analyses, including review of credit applications, financial statements, and credit reports. Make informed decisions regarding credit approvals and terms,  balancing risk and business growth objectives. 
• Customer Relationship Management: Cultivate positive relationships with customers to facilitate credit management and collections processes. Collaborate with sales and customer service teams to address credit-related issues and negotiate payment terms. 
• Credit Risk Monitoring and Mitigation: Monitor customer accounts for payment trends, delinquencies, and credit limit utilization, identifying potential credit risks and taking proactive measures to mitigate them. Implement credit risk mitigation
  strategies such as credit insurance, letters of credit, and guarantees to protect against non-payment.
• Collections Strategy Development: Establish collection goals and KPIs to measure performance and drive continuous improvement. Develop and implement effective collections strategies to optimize cash flow and reduce accounts receivable delinquencies. 
• Collections Process Management: Streamline collections processes and procedures to enhance efficiency and effectiveness, leveraging technology and automation tools where possible. Conduct regular analysis of accounts receivable aging reports to prioritize collection efforts and identify overdue accounts. 
• Dispute Resolution: Investigate and resolve billing discrepancies, disputes, and customer inquiries promptly and professionally. Work collaboratively with internal departments and customers to address issues and expedite payment resolution. 
• Legal Action and Recovery: Initiate legal action, including filing lawsuits or engaging collection agencies, against chronically delinquent accounts as necessary.  Negotiate payment arrangements and settlements with delinquent customers to recover outstanding debts while minimizing legal risks. 
• Reporting and Analysis: Prepare regular reports and analysis on credit and collections performance for management review, providing insights and recommendations for improvement. Ensure compliance with relevant laws,  regulations, and industry standards related to credit and collections activities,  maintaining accurate documentation and records. 
• Team Leadership and Development: Lead and motivate a team of credit analysts,  collections specialists, and support staff to achieve departmental goals and objectives. Provide coaching, training, and development opportunities to enhance  team performance and professional growth
• Communication and Stakeholder Engagement: Communicate effectively with internal stakeholders, including finance, sales, and senior management, to provide updates on credit and collections performance and address concerns. Maintain open lines of communication with customers to facilitate payment resolution and address payment issues professionally.

What you’ll bring

• Strong educational background in Finance, Accounting, or related fields, often with a Bachelor’s Degree.
• Relevant certifications like CCCM, CCE, or CCP, indicating expertise and  commitment to professional development. 
• Excellent communication and negotiation skills, essential for interactions with stakeholders. 
• Comprehensive knowledge of relevant laws and regulations, ensuring compliance in all activities.
• Leadership experience, capable of managing teams and driving performance.
• Comprehensive knowledge of relevant laws and regulations, ensuring compliance in all activities.

Compensation and Benefits

• Expected Compensation: Rs.5-8 Lacs per Anum commensurate with experience
• Mediclaim & Gratuity on confirmation 
• Performance based incentive 
• Annual Off Site Retreats 
• Flexi Yoga Program 
• Opportunities to expand profile and crossfunctional training 
• Commuter Benefits
• Rewards and Recognition